Genomics Market Worth US$ 57,237.1 million - UnivDatos Industry Analysis- by Size, Share, Growth, Trends, and Forecast 2021-2027
Research report presented by UnivDatos, Emphasis on
Product/Services (Consumables, Systems & Software, Services); Technology
(Sequencing, Polymerase Chain Reaction, Nucleic Acid Extraction &
Purification, Microarray, Others); Application (Diagnostics, Drug Discovery
& Development, Personalized Medicine, Agriculture & Animal Research,
Others); End-Users (Pharmaceutical & Biotechnology Companies, Hospitals
& Clinics, Academic & Government Institutes, Clinical Research, Others)
and Geographical analysis (key regions and countries).
As per the research report, Global Genomics Market is expected to reach the market valuation of USD 57,237.1 million by
2027 expanding at a reasonable CAGR of 15.1% during the forecast period (2021-2027)
from USD 21,312.6 million in 2020.
Genomic
research is attracting a lot of interest from investors and the general public
because it has such a big effect on people's lives and other living life on the
planet. The decoding of the first human genome, which took over ten years and
cost about $3 billion, was a major achievement in 2003. Since then, the level
at which a genome can be sequenced has more than doubled, far outpacing Moore's
Law. Today’s high throughput sequencing machines sequence the human genome in a
matter of hours at a rate approaching USD 1,000. Researchers have been able to
conduct further genomic analyses in less time as a result of these advances,
significantly speeding up the rate of scientific exploration.
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The
demand is expected to rise due to rising cancer incidence and lower sequencing
costs. Because of the advancement of next-generation sequencing, the cost of
whole genome sequencing has decreased dramatically over the past decade. The
accelerated advancement of DNA sequencing technology in recent years has
resulted in a nearly 60% CAGR in the cost of sequencing one mega-base of DNA
over the last decade, from over USD 4,953.6 (£3,600) to USD 0.041 (£0.03) per
mega-base of DNA in April 2015. Few fixed costs are expected to be decreased as
a result of increased automation, but other costs, such as reagents, are
unlikely to decrease at the same time.
The
growing interest in biomarkers is fueling a surge in genomics-related
pharmaceutical R&D, which has increased dramatically since 2000. Several
organisations have made genomics investments, either by gathering genomic data
for databases or by conducting analysis. For example, Illumina predicted that
the number of genomes sequenced would double per year, reaching 1.6 million in
2017. Furthermore, the market is expected to benefit from increased government-funded
programmes. The ambitious "Genome India Project" (GIP) was launched
by the Department of Biotechnology (DBT) in 2020 to collect 10,000 genetic
samples from people across India in order to create a reference genome. The
Indian Institute of Science's Centre for Brain Research in Bengaluru is heading
this initiative, serving as the central organiser for a consortium of 20
leading universities, each of which gathers samples and performs its own
research. Any of the focus areas include precision medicine, rare genetic
anomalies, the mutation continuum of genetic and complex diseases in the Indian
population, genetic epidemiology of multifactorial lifestyle diseases, and
translational science.
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Insights Presented in the Report
“Amongst product/services, consumables segment holds the major share”
Precision
medicine, unusual genetic abnormalities, the Indian population's mutation
spectrum with genetic and complex disorders, genetic epidemiology of
multifactorial lifestyle diseases, and translational research are only a few of
the emphasis fields.
“Amongst technology, sequencing dominated the market in 2020”
Sequencing,
polymerase chain reaction, nucleic acid extraction and purification,
microarray, and other technologies make up the technology class category. The
sequencing segment led the market in 2020, producing USD 8,388.6 million in
sales, and is projected to continue to do so over the forecast period. Over the
last quarter-century, advances in genomics have culminated in dramatic cost
improvements in genome sequencing, resulting in expanded genome sequencing use.
During the forecast period, however, the polymerase chain reaction segment is
expected to grow at the fastest rate of 15.8%. (2021-2027).
“Amongst application, diagnostics is anticipated to grow at the highest
CAGR during the analyzed period”
The market is
further divided into diagnostics, drug discovery and production, precision
medicine, agriculture and animal science, and others depending on use.
Diagnostics has a maximum industry sales share of 32.1 percent in 2020 and is
projected to stay competitive in the forecast period. Personalized medication,
on the other hand, is expected to rise at the fastest rate over the projected
period, with a market value of USD 11,001.3 million.
Amongst end-user, pharmaceutical & biotechnology companies segment
holds the major share”
The
market is segmented into pharmaceutical and biotechnology firms, hospitals and
clinics, medical and government institutes, health research, and others,
depending on the end-user category. Pharmaceutical and biotechnology firms led the
industry in 2020, with sales of USD 12,991.7 million, and are expected to
continue to do so in the forecast period. The segment of hospitals and clinics,
on the other hand, is projected to rise at the fastest CAGR over the forecast
era.
“North America signifies one of the largest markets of Genomics Market”
A
detailed analysis was conducted for different regions across the globe,
including North America (United States, Canada, and the Rest of North America),
Europe (Germany, France, Italy, Spain, United Kingdom, and the Rest of Europe),
Asia-Pacific (China, Japan, India, and the Rest of APAC), and the Rest of the
World, in order to gain a better understanding of the market dynamics of the Genomics
Market. Because of rising
cancer prevalence and increased government-funded programmes, North America led
the industry in 2020, generating sales of USD 8,982.8 million. During the
forecast period, Asia-Pacific is expected to rise at the fastest pace, with a CAGR
of 16.51 percent.
Customization Options:
The Genomics Market can further
be customized as per the requirement or any other market segment. Besides this,
UMI understands that you may have your own business needs, hence feel free to
connect with us to get a report that completely suits your requirements.
Table of Contents
1 Market
Introduction
2 Research
Methodology or Assumption
3 Market
Synopsis
4 Executive
Summary
5 Genomics
Data Strategies
6 Genomics
Amid COVID-19
7 Global
Genomics Market Revenue (USD Mn), 2019-2027f
8 Market
Insights by Product/Services
9 Market
Insights by Technology
10 Market
Insights by Application
11 Market
Insights by End-User
12 Market
Insights by Region
13 Genomics
Market Dynamics
14 Genomics
Market Opportunities
15 Genomics
Market Trends
16 Legal &
Regulatory Framework
17 Demand and
Supply Side Analysis
18 Value Chain
Analysis
19 Company
Profiled - Agilent Technologies, Bio-Rad Laboratories, Danaher Corporation, F.
Hoffmann-La Roche, Illumina, Myriad Genetics, Oxford Nanopore Technologies
20 Disclaimer
Labels: Genomics Market, Genomics Market growth, Genomics Market share, Genomics Market size, Genomics Market trends
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